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Settlement reached in Lance Thomas case

The chances of the NCAA punishing Duke over the Lance Thomas jewelry case just got a lot more slim. Thomas and the jeweler who sued him for defaulting on a $67,800 payment have reached a settlement, according to the Raleigh News Observer. Back in 2009, Thomas bought $97,800 worth of custom jewelry from Raefello & Co. jewelers in Manhattan. He put down a $30,000 down payment (in cash) and signed an agreement to pay back the remaining $67,800 within 15 days. He didn’t, and the jewelers sued in January 2012.

The story made national news earlier this month, fueling speculation that the NCAA might go after Duke and Thomas on the matter, but that would require the cooperation of Raefello & Co., who declined to speak to NCAA investigators last week. Now, with a hefty settlement in hand, they have no reason to talk. How did Thomas get $30,000 in cash for the down payment? Who knows. Who paid the rest of the loan? Doesn’t matter. With no one talking, case closed.

Pete Thamel couldn’t be reached for comment. (Apparently cell phone service in Cal’s trash bins isn’t very good.)

[Former Duke basketball player Lance Thomas settles jewelry lawsuit]

Article written by Mrs. Tyler Thompson

No, I will not make you a sandwich, but you can follow me on Twitter @MrsTylerKSR or email me.

25 Comments for Settlement reached in Lance Thomas case

  1. TheProfessor
    10:37 am September 18, 2012 Permalink

    Would love to hear from The General on this one!

  2. Coach K
    10:39 am September 18, 2012 Permalink

    I couldn’t get through reading this post…. I was too lost in Lance’s angelic eyes. Pass the cheese please

  3. NYC_Cat
    10:40 am September 18, 2012 Permalink

    1. – That would be interesting – would Bobby throw one of his guys under the bus? He will go into default mode and say K know nothing about it.

  4. The Gambler
    10:46 am September 18, 2012 Permalink

    First Maggette and now Thomas.

    Wow … I guess you can go to Duke and never get busted for cheating.


  5. Will S
    10:48 am September 18, 2012 Permalink


  6. AssholeDiCkfaCe
    10:48 am September 18, 2012 Permalink

    I didn’t expect anything more from the NCAA

  7. king cat
    10:53 am September 18, 2012 Permalink

    where is the IRS in this whole mess? i would think they would like some answers on where this money trail goes.

  8. memphis state
    10:58 am September 18, 2012 Permalink

    We’re gonna sue the ncaa, duke, unc, and wright state (just for fun) – over all this bullsh!t. How can we get in trouble over the rose stuff and duke not get in any trouble over both maggette and now thomas. And how can the ncaa say anything about a high school not being credible about giving grades – but unc gets away with their academic fraud with their president stepping down? The ncaa needs to be blown the f up!

  9. MustangCat
    11:04 am September 18, 2012 Permalink

    Best i can remember it, the supposed $1,000.00 or so that was supposed to have been sent to Chris Mills dad, that supposedly “popped open” for all the UCLA fans to see??? That money was supposedly PUT BACK IN SAID PACKAGE(?), re-sealed and sent on to the Mills family? THAT RIGHT THERE told me something smelled fishy. No money was ever produced, was it? No admittance ever came from Casey, or UK, or the Mills family, did it? No one involved in the case agreed to drop dimes on UK, except the UCLA fans, right?! All circumstantial stuff, yet they took UK down with it? Somebody explain to me how the NCAA has their hands tied in this (and the UNC academic scandal)? There’s a little something called a subpoena that can be issued, isn’t there? Where are our Politicians now, who want to involve themselves in every other sports issue out there? What a joke? When you look at what Coach Cal has lost, over things he was not involved in, and then compare that to THESE TWO SCANDALS??? The NCAA protects these two schools, obviously, and lets some pretty serious no-no’s go? So much for any last shred of integrity, huh?! Makes me wanna see Cal win the next 5 titles, and not for UK’s sake either.

  10. MustangCat
    11:10 am September 18, 2012 Permalink

    The NCAA is to the point where the bad far outweighs the good it does. They need someone to take them down a few notches. Make that rather a complete total hostile takeover!! Where are the Muslim nutcases when you need them?

  11. The General
    11:10 am September 18, 2012 Permalink

    For a great low rate you can get online, go to the General and save some time!

  12. kablooey
    11:12 am September 18, 2012 Permalink

    How do Duke and UNC keep getting away with this things? Wheres the justice from the NCAA

  13. Micah
    11:13 am September 18, 2012 Permalink

    If the absurdities that have happened at UNC recently or if say John Wall had done what this kid from Duke did, the NCAA would be all over us and I would have to defend UK more than I already have to on a daily basis, its really annoying…

  14. nassau65
    11:36 am September 18, 2012 Permalink

    Of course it’s settled. It’s Dook.

  15. Katdaddy
    11:38 am September 18, 2012 Permalink

    John wall and Ryan kelly on same AAU team! Wall got in trouble, kelly nothing.

  16. Mark Emmert's Hymen
    11:39 am September 18, 2012 Permalink

    I was really torn and busted up over what to do about our golden choir boy ACC flagship schools getting caught red-handed for flagrant violations, so I simply did what my counterparts in Congress would do => nothing.

  17. LogicalCat
    12:40 pm September 18, 2012 Permalink

    And did anyone really expect the NCAA to do anything about this?
    Nothing to see here folks, just move along.

  18. jp7
    12:51 pm September 18, 2012 Permalink

    If that had been Kentucky, the NCAA would have been camping on their doorstep the day the story broke. They didn’t get any cooperation from enes Kanter’s coach overseas and that didn’t stop them from putting the screws to him, but this is different-this is Duke so the NCAA won’t push.

  19. Beavis
    2:10 pm September 18, 2012 Permalink

    According to Kanter’s lawyer,,,,under NCAA guidelines he should have been allowed to play but the NCAA found “creative” means to declare him ineligible. Could the same be done at UNC and Duke,,,,you damn right they could. Speaking of UNC,,,if Tami and Kupec claimed they were on university business when they clearly were not and they turned in travel expenses ,, wouldn’t the university ask for the money back and/or would the IRS be interested in that.

  20. pcefrog5
    2:27 pm September 18, 2012 Permalink

    @19- speaking of the IRS, it is mandated that any business or trade that receives a cash payment
    of $10k or more must fill out an 8300 form and submit it to the IRS. Since it was documented in court
    papers that he put down a $30k cash payment, then this must have been reported. This is required so that
    the IRS and FinCEN can determine where the cash came from and if all applicable taxes were paid. I do not
    know if their investigation/findings are public records or not, but that would tell everyone where he got the $30k.

  21. Dave Ball
    2:49 pm September 18, 2012 Permalink

    the NCAA will also not ban the UCLA players this year (as they have done in the past with UK players)…adding more fuel to the fire that the NCAA is biased towards certain schools (my guess is that boosters can also boost the pockets of those at the NCAA hq just as easily as Lance Thomas’ jewelers…)

  22. stevie
    3:13 pm September 18, 2012 Permalink

    Could someone print the email address of the NCAA. We need to email them everyday until something is done. It’s worth a try.

  23. mike
    3:49 pm September 18, 2012 Permalink

    An interesting read is Dick (head) V’s take on on this matter.

  24. dick gosinia
    3:53 pm September 18, 2012 Permalink

    I’m curious what Jay Bilas has said, if anything, about all of this. This has to be a black eye to his alma mater. Has he come out with anything at all since all this began?

  25. mapcatfan
    4:19 pm September 18, 2012 Permalink

    I don’t recall anyone talking in the Derek Rose case either. They had zero proof that someone took his test for him. But were their hands tied in that case? Hardly.

    They have absolute proof that the jeweler gave Thomas, a college student, a temporary line of credit amounting to almost $70,000. It was in the lawsuit.

    The NCAA is disgusting.